The FBI is giving the mortgage lender a look-see. That’s on top of Securities and Exchange Commission investigations, multiple state investigations and several lawsuits.
Boy, if I’m Bank of America, I have to seriously be questioning my $4B paying price to take over this turkey. I wonder if BofA folks (who don’t have the lightest mortgage lending sheets in the world themselves) are looking at ways to back out, or at least renegotiate the price.
As I said when BofA made the deal, I thought they were irrationally chasing after stranded money they already had invested in Countrywide.
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